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Search Results 0 to 11 of about 12 (some duplicates have been removed)
Sep 20, 2010 7:00pm PDT
. >> reporter: vincent reinhart used to help the fed meet its dual mandate as a senior policy adviser. with unemployment at close to 10%, he says it's clear the economy isn't operating anywhere close to maximum employment, which is closer to 5%. and what about price stability? indicators of core inflation are under 1%, with many prices flat or falling. but that isn't the same as price stability. >> it's possible to have too much of a good thing. >> reporter: why? because periods of high unemployment tend to push prices down and prices are not stable when they are rising or falling too much. >> as inflation starts falling and maybe even veering into deflation, the real value of what you have to pay back goes up and up and up. so it's harder for people who borrow, including the u.s. government, in that regard. >> reporter: with the fed failing to meet either of its mandates, economist josh bivens says the conclusion is clear. >> you're missing both mandates, but in the same direction for once. we're not acting aggressively enough to drive down unemployment, and we're not even acting agg
Sep 2, 2010 7:00pm PDT
by wpbt >> tom: good evening, and thanks for joining us. ben bernanke said today it's a myth that lehman brothers could have been saved, perhaps preventing the financial crisis. susie, the fed chairman also says he's partly to blame for creating that myth. >> susie: tom, bernanke was the star witness on capitol hill today, answering questions from the financial crisis inquiry commission. the committee was commissioned by congress to figure out why lehman failed, and to answer the bigger question of what caused the financial crisis. >> tom: bernanke's testimony was a look at the lessons learned from the crisis and a look at how to prevent another one in the future. darren gersh reports. >> reporter: speaking to the financial crisis inquiry commission, federal reserve chairman ben bernanke admitted he thought lehman brothers was not merely facing a cash crunch when it failed. he thought the firm was very likely insolvent, a fancy way of saying it couldn't pay its debts. but in 2008, bernanke chose not to share that thought with congress. >> it was a judgment at that moment, with the system
Search Results 0 to 11 of about 12 (some duplicates have been removed)